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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (420714)	9/29/2008 10:51:46 AM
From: tejek	Read Replies (1) \| Respond to of 1573599

WB and WaMu failed because of runs on deposits. The run on the banks is not a result of depositors who worry about losing their money. It is bigger players who are moving their money out of dollar accounts and into euros or commodities. Yes, I should have made that clearer.

To: TigerPaw who wrote (420714)	9/29/2008 10:53:03 AM
From: michael97123	Respond to of 1573599

not sure. Companies who bank at wachovia couldnt guarantee safety of deposits used for payroll with 100K fdic insurance only. They started moving out about two weeks ago. Govt has a firewall around the three largest banks now---citi, JPM and b of a. I think the problems are being solved now but the pain continues as markets slow to recognize. Check the markets in a week. Think we will have a powerful rally underway..